German factory orders rebound in October on both foreign and domestic demand growth

BERLIN – German factory orders rebounded in October, increasing 1.8 per cent after three months of declines and beating projections as both foreign and domestic demand rose.

The Federal Statistical Office said Friday that domestic orders in October increased 1.7 per cent on the previous month while foreign orders were up 1.8 per cent in seasonally adjusted terms.

New orders from countries using the euro currency rose 2.4 per cent, while those from other countries increased 1.4 per cent.

Economists had been predicting an overall increase of 1.2 per cent.

The Statistical Office also said it was correcting September’s figure to show a drop of 0.7 per cent compared with the provisional 1.7 per cent initially reported.